Section 9.23 Coverage Issues

• Library: Insurance Practice 2015

Establishing coverage under a director and officer liability policy is essentially a two-fold process. First, the claim must fall within the class of claims covered under the insuring clause. The manner in which key terms, such as “claim,” “loss,” and “wrongful act,” are defined in the policy and the insured’s compliance with any applicable notice of claim provision will be determinative of this issue. Second, coverage for the claim must not be subject to any of the numerous exclusions that are normally...